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Big miners batten down for Pilbara cyclone

Written By Unknown on Senin, 30 Desember 2013 | 13.23

Australia's biggest iron ore miners have suspended exports as a cyclone heads towards the WA coast. Source: AAP

AUSTRALIA'S biggest iron ore miners have stopped loading ships and suspended rail operations as cyclone Christine heads towards the Pilbara coast.

Late on Monday the category three system was 135km north of Port Hedland and 250km northeast of Karratha, and moving southwest at 12km/h towards the Pilbara coast.

BHP Billiton, Rio Tinto and Fortescue Metals Group have suspended their port operations in the region.

BHP said "tie-down" activities at Port Hedland, Australia's largest iron ore export port, have been completed.

"Extreme weather preparations continue across our mining operations in line with alerts issued by Department of Fire and Emergency Services," BHP said in a statement.

"Any production impacts will be in our next operational report."

The highest priority is to ensure the safety of employees, BHP said.

Rio Tinto said ship loading and rail operations have been suspended, with all staff at the port sent off site for their safety.

The company's inland mine operations continue as normal.

Fortescue Metals Group said its Port Hedland operations and rail operations had been secured, in line with the company's cyclone readiness procedures.

"Conditions are being closely monitored and plans will be updated accordingly," the company said.

Cyclone Christine is expected to cross the coast between Port Hedland and Karratha on Monday night or early Tuesday morning, with gusts of more than 200kmh expected near the centre of the storm.


13.23 | 0 komentar | Read More

Icebreaker unable to reach Antarctic ship

Australian icebreaker Aurora Australis is battling to reach a cruise ship stranded in the Antarctic. Source: AAP

A STRANDED research ship will spend its seventh night wedged in Antarctic sea ice after strong winds pushed back an Australian icebreaker sent to its rescue.

The Aurora Australis icebreaker battled through enough sea ice on Monday to come within 10 nautical miles of the stranded vessel, which is carrying more than 70 scientists, explorers and tourists.

But in the latest setback to the on-going rescue mission, the icebreaker abandoned its first attempt and sailed into open water as poor weather moved in.

Rescue authorities have now put the mission on hold over safety concerns, but may try again when the weather improves.

"Further attempts may be made by the vessel ... once weather conditions improve," said Australian Maritime Safety Authority (AMSA) spokeswoman Lisa Martin.

The icebreaker arrived near the Antarctic coast at 2am (AEDT) on Monday in a final bid to break through the pack ice surrounding the MV Akademik Shokalskiy, located about 1500 nautical miles south of Hobart.

Two icebreakers have already given up on efforts to push through the thick and dangerous ice floes to free the trapped ship.

The ship's passengers, from Australia and New Zealand, have been stuck on the ship since Christmas Eve.

The ship had been undertaking the Spirit of Mawson voyage, which is retracing Sir Douglas Mawson's Antarctic expedition.

Professor Chris Turney of the University of NSW is leading the expedition, consisting of scientists, explorers and enthusiasts undertaking climate research.

He has continued to post updates about the failed rescue attempts on social media sites, saying the weather was poor but he remains hopeful since ice appears to be breaking up near the trapped ship.

"Cracks are developing around the bow. Hope this helps," he wrote on Twitter.

"High winds this am; sorry for limited comms. Set up tent on top deck. All well. ... Waiting game!"

The Aurora is the last ship in the area that will be able to help.

If it can't battle through the ice in another attempt, authorities will look at ferrying the trapped passengers to safety by helicopter.

The Akademik Shokalskiy sent a distress call on Christmas Day after becoming trapped in heavy sea ice.


13.23 | 0 komentar | Read More

Girl killed, five injured in NSW crash

A YOUNG girl has been killed and five other people injured in a single-vehicle crash in the state's Hunter region.

The crash occurred about 50 kilometres south of Cessnock on George Downes Drive, Bucketty, shortly before 1pm (AEDT) Monday, police said.

It was first thought that a man had died in the crash, but police and the NSW Ambulance Service now say a young girl was killed.

They say she was pronounced dead at the scene.

Police said a woman in her 30s, believed to be the driver, and another young girl suffering a serious head injury were airlifted to hospital.

NSW Ambulance said three other people were treated at the scene for abrasions and minor injuries then airlifted to Westmead Hospital by a second rescue helicopter.

Emergency services are at the scene which will be examined by Crash Unit Investigators.

The young girl's death takes NSW's road toll to seven.

The national road toll period runs from midnight December 23, 2013 until midnight January 3, 2014, local times, in line with the Australia New Zealand Policing Advisory Board.


13.23 | 0 komentar | Read More

Quakes sink part of Mexico highway near US

Written By Unknown on Minggu, 29 Desember 2013 | 13.23

A section of a Mexican highway near the US border has collapsed after a series of small earthquakes. Source: AAP

A 275-METRE section of a Mexican highway near the US border has collapsed, sinking about 30m after a series of small earthquakes.

Mexico's federal highway authority says the collapse occurred about 93km south of the border city of Tijuana.

The road leads to the port city of Ensenada, on the Baja California peninsula.

The agency said on Saturday the road was closed in the early morning hours, after the collapse was detected.

The agency said the collapse was caused by seven small earthquakes ranging in magnitude from 1.3 to 4.3.

It said the roadway runs over a known geological fault in the area, and that it had been raining heavily.

No injuries were reported.

Traffic was being diverted onto a smaller, non-toll highway.


13.23 | 0 komentar | Read More

WA's Taste Master reluctant to leave

JUMPING out of a plane was not as frightening as scaling the famously hair-raising Gloucester Tree in Western Australia's South West region, the man with one of the best jobs in the world says.

Rich Keam counts the 72-metre tree near Pemberton as the only challenge that's bested him in his enviable role as Tourism WA's "taste master" over the past four months.

The 35-year-old Englishman believes he scored the best of all seven gigs offered by Tourism Australia - including "chief funster" in NSW - as he's tasked with munching his way through WA's considerable culinary delights after beating more than 600,000 other applicants from around the world.

With about six weeks of his six-month contract remaining, he's yet to take in the temperate towns of Denmark, Albany and Esperance in the state's Great Southern region, and Geraldton in the Mid West.

But he's been dazzled by the Kimberley's rugged beauty, relished the South West - where he rubbed shoulders with top chefs such as Heston Blumenthal at the Margaret River Gourmet Escape - and taken the plunge from a tiny plane in the middle of Perth.

"I was absolutely terrified," Keam said of the tandem dive that landed him in the city's central Langley Park.

"I'm tall, so I had to stick my leg out onto the wheel and go head first down. That was surreal."

However, it wasn't as scary as trying to climbing 153 thin pegs to the top of the Gloucester Tree, a former fire lookout in the middle of Karri forest.

Keam twice made it about 15 metres up then declared: "I'm coming down!".

"My eyes were blurring, I got sweaty hands.

"I'd sooner jump out of a plane.

"If there was a harness, I'd do it, but that's the challenge, isn't it - to do it without a harness."

Keam said another top adventure was participating in the Kickstarters Gascoyne Dash, which starts in desert inland from Carnarvon.

The Brighton-based film costumer reached 220km in a souped-up buggy driven by WA's off-road racing champion Bradley Cooper, but it was the people he met in the fishing town that left the greatest impression.

"I just had a great time there," he said.

"There were really friendly people in Carnarvon - some real characters."

And after sampling boab tuber chutney, ants and pearl meat, Keam's gourmet highlight was at the Sal Salis luxury eco-camp on the Coral Coast at Ningaloo Reef, where he feasted on pork belly and mud crab salad.

"I was the only person there," Keam said.

"It was so peaceful and serene, looking out at the ocean, so I took two hours to eat it."

Keam says he'll miss WA - the ultimate self-drive holiday destination with its vast distances - and its family-friendly capital.

"I don't really want to leave.

"I'd like to stay here for a couple of years."


13.23 | 0 komentar | Read More

Icebreaker 100 miles from stuck ship

An Aussie icebreaker is about 100 nautical miles from a ship trapped in sea ice near Antarctica. Source: AAP

AN Australian icebreaker is closing in on a ship wedged in Antarctic sea ice as part of a second rescue mission to free the stricken vessel.

A group of scientists, explorers and tourists has been stuck on the Russian research ship MV Akademik Shokalskiy, about 1500 nautical miles south of Hobart, for the past five days.

Two icebreakers have given up on efforts to push through the thick and dangerous ice floes near Antarctica to try to free the trapped research vessel.

A third icebreaker, Australia's Aurora Australis, is on its way to the ship and is due to arrive about 1am (NZT) on Monday.

It is the last ship in the area that will be able to help.

The Aurora Australis was about 100 nautical miles from the trapped ship at 2pm (AEDT),(4pm NZT), the Australian Maritime Safety Authority (AMSA) said in a statement.

If it can't battle through the ice, AMSA says a second option may be to consider ferrying trapped passengers with a helicopter.

The locked-in ship, with 74 people on board, including several New Zealanders, sent a distress call on Christmas Day after becoming trapped in heavy sea ice.

The ship had been undertaking the Spirit of Mawson voyage, which is retracing Australian explorer Sir Douglas Mawson's Antarctic expedition.

Professor Chris Turney of the University of NSW is leading the expedition, consisting of scientists, explorers and enthusiasts undertaking climate research.

He insisted during several interviews with international media outlets that everyone was in good spirits despite the ordeal.

The Aurora icebreaker is rated at being able to push through ice slightly deeper than one metre thick.

China's Snow Dragon icebreaker, which came within six-and-a-half nautical miles of the stuck ship before turning back out of safety fears, is standing by in case its helicopter will be needed.

The Ministry of Foreign Affairs has said four New Zealanders are on board, but there may be as many as six, according to media reports.


13.23 | 0 komentar | Read More

'Butcher of Bega' released from jail

Written By Unknown on Sabtu, 28 Desember 2013 | 13.23

A former NSW doctor has successfully appealed his jail sentence for mutilating a woman's genitals. Source: AAP

FORMER NSW doctor Graeme Reeves has been released from Long Bay jail after he successfully appealed an 18-month increase to his sentence for mutilating a woman's genitals.

Dubbed the "butcher of Bega", Reeves was found guilty in 2011 of removing Carolyn DeWaegeneire's clitoris and genitals.

Medical Error Action Group spokeswoman Lorraine Long said she was shocked at news of his release and said she would meet with women who had contacted her to decide the next step.

"I think the first step is to organise a meeting and (the women) can reveal (their cases)," she said.

On December 18 the High Court ruled Reeves had the right to appeal against an 18-month increase to his sentence, but not his conviction.

A spokesman for NSW Attorney-General Greg Smith said a number of charges were withdrawn by the Office of the Director of Public Prosecutions in mid-November after it found there was insufficient evidence to ensure a reasonable prospect of conviction.

Reeves was released to court-based parole on December 20.

"The Corrective Services NSW Community Corrections Division has placed strict parole conditions on Reeves, including that he not contact his victims," a spokesman for the attorney-general said on Saturday.

"The NSW Court of Criminal Appeal will re-sentence Mr Reeves in light of the High Court decision.

"It is possible he will serve an additional period of imprisonment."

Ms Long said she was unaware the charges against Reeves were dropped in mid-November.

She said she has 832 complaints against Reeves and planned to make them public in the coming year.

"They did that in November and never had the decency to contact the women," she said.

"Why do it right now, so we won't notice?"


13.23 | 0 komentar | Read More

Gambler rewards honest US cabbie with $10K

A US gambler who left behind $US300,000 in a cab has handed over $US10,000 to the honest driver. Source: AAP

A POKER player who left $US300,000 ($A338,275) in the back seat of a Las Vegas taxi made good on his promise this week, handing over a $US10,000 reward to the honest cabbie who returned the stash.

Yellow Checker Star Cab Company CEO Bill Shranko confirmed Friday that Gerardo Gamboa had been paid by the poker player. The cab company also honoured the driver's good deed by naming him employee of the year, awarding him $US1000 and giving him a gift certificate to a Las Vegas steakhouse.

It's unclear how Gamboa plans to spend the belated Christmas gift. He did not immediately return a call from The Associated Press on Friday.

The tale, first reported by the Las Vegas Review-Journal, started Monday when Gamboa accepted a fare at the Bellagio casino. A hotel doorman noticed a brown paper bag on the back seat and handed it to him; Gamboa thought it was sweets.

The driver said he had another passenger by the time he began wondering what kind of chocolates were in the brown paper bag. He peeked inside at a traffic light and spotted the cash.

"I told my passenger, 'You are my witness on this'," the 13-year taxi driver told the Las Vegas Sun, "and then I immediately called my dispatcher".

Gamboa took the six bundles of $100 bills to the company's main office, where Las Vegas police and casino officials linked it to the poker player.

It took several hours to verify the identity of the owner and return the cash. Authorities aren't identifying the poker player.

Before he learned about the anonymous gambler's gift, Gamboa said he wasn't in it for the money.

"If he doesn't give me anything, that's OK," Gamboa told the Sun earlier this week. "I'm not waiting for any kind of return. I just wanted to do the right thing, and I appreciate what the company did for me."


13.23 | 0 komentar | Read More

China one-child policy change approved

CHINA'S top legislature has sanctioned the ruling Communist Party's decision to allow couples to have a second child if one parent is an only child.

It's the first major easing in three decades of the restrictive national birth planning policy.

Implemented around 1980, China's birth policy has limited most couples to only one child, but has allowed a second child if neither parent has siblings or if the first born to a rural couple is a girl.

The official Xinhua News Agency said the standing committee of the National People's Congress approved a resolution on Saturday to formalise the party decision.

It says the national lawmaking body has delegated the power to provincial people's congresses and their standing committees to implement the new policy.


13.23 | 0 komentar | Read More

Searchers for tramper find body

Written By Unknown on Jumat, 27 Desember 2013 | 13.23

A BODY has been recovered from the bottom of a 100-metre cliff in Nelson Lakes National Park in New Zealand by searchers looking for British tramper Andrew Wyatt.

The body is yet to be formally identified, police say.

The body was below the Lake Constance Bluff, which is on Mr Wyatt's intended route between Blue Lake Hut and Waiau Pass.

Four ground teams, one dog team and a communications team were flown into the park by Air Force Iroquois on Friday to resume the search for Mr Wyatt after the weather improved.

He had been missing for 12 days.

The search was suspended on Christmas Day due to bad weather.

A helicopter spent three hours visiting all the huts in the area on Monday.

Mr Wyatt arrived in New Zealand on November 21 and was last seen on December 15 at Blue Lake Hut.

He planned to walk the Te Araroa Trail that links Cape Reinga to Bluff.

Police have been in daily contact with Mr Wyatt's parents in the UK.


13.23 | 0 komentar | Read More

Gold Coast adventurer reaches South Pole

A GOLD Coast adventurer taking a pink "boob-sled" across Antarctica has made it to the South Pole.

Dr Geoff Wilson reached the milestone on Friday, leaving him with 1100km to go in his quest to become the first Aussie - and third person - to cross the southern continent solo.

But he reckons the worst of the journey is over.

"Now I've got the shorter run to the coast, which is the traditional entry route for most polar travellers," he told ABC Radio on Friday.

"The positive is that it's down hill and it will get warmer and warmer as I get closer to the coast."

Dr Wilson has endured sub-zero temperatures and strong icy winds throughout his trek.

Earlier this month he even ventured into the elements naked, dancing around a tent to celebrate beating the Australian record for the longest trek across the icy continent.

However, his main goal is to take the "boob-sled" 3300km from one side of Antarctica to the other - and raise $1 million for breast cancer charity the McGrath Foundation.

"I've been pulling the boob-sled for 2280km to here, so it's double the current record for Australian solo polar travel already and there's still 1100km to go," he told ABC Radio.

"It will be the first Australian crossing of the Antarctic continent and there's only two other guys who have ever done it solo unassisted - they're both Norwegian legends.

"We may, as long as I keep making good decisions, give the record a shake which has been held since 1997 by a very tough Norwegian called Borge Ousland."

Dr Wilson began the trek on November 4 and expects the journey to take him up to 80 days.


13.23 | 0 komentar | Read More

Sydney woman charged with attempted murder

Police have charged a woman with attempted murder after a man was stabbed in Sydney's west. Source: AAP

A WOMAN who allegedly stabbed a man numerous times on Christmas Eve at a granny flat in Sydney's west has been charged with attempted murder.

Police said they were called to a house on Woodville Road, Guildford after reports of a fight between a man, 43, and 26-year-old woman, about 12.30pm (AEDT) Tuesday.

After returning home, the man was assaulted in the house's granny flat by the woman and two other men, police believe.

They allege the woman stabbed the man three times in the neck, arm and shoulder, before the fight spilled out onto the road.

The man and woman collapsed, and the two other men fled the scene in a ute.

The pair were taken to hospital and the woman was arrested on her release.

She has been charged with causing grievous bodily harm with intent to murder, and wounding with intent to cause grievous bodily harm.

She was granted conditional bail yesterday and will face Parramatta Local Court on January 16.


13.23 | 0 komentar | Read More

No laughing matter as scary clowns strike

Written By Unknown on Kamis, 26 Desember 2013 | 13.23

UK clowns are up in arms about impostors who are tarnishing their name by scaring people in public places.

The copycat craze - believed to have been started by a man known on Facebook as the Northampton Clown - involves people dressing as the circus characters to surprise passers-by in public places.

Derbyshire police received 29 reports of clown sightings after social media claims that a man in the Nottingham area was dressing up and carrying balloons and a knife.

One report read: "Caller scared as someone had tried to get in to their house - posted on Facebook that a clown had been going around village trying door handles."

Another said: "Caller reported having received numerous calls from concerned parents about a clown going up to the windows of houses brandishing a gun and knife frightening the residents."

Tony Eldridge, the secretary of Clowns International, which represents the entertainers in Britain, said the problem had escalated beyond harmless fun.

"The fear of clowns - coulrophobia - is a real thing and some people will react very badly to this.

"This has nothing to do with clowning. It's a small group of people with stupid views and it spoils the fun for everybody else."

He added that most legitimate entertainers followed a code of clown conduct which includes not wearing their costume in public.

The trend emerged when the Northampton Clown, who posts photos of himself in public places, rose to prominence and gained nearly 200,000 "likes" on Facebook.

Last month Norfolk police told the public to ignore clowns after sightings around King's Lynn.

These included a person in a "full clown outfit" with a red suit and red hair chasing members of the public.

South Yorkshire police recorded 28 incidents involving people dressed as clowns.

These included a clown standing in a park, jumping out at somebody in the street and staring through the window of a house.


13.23 | 0 komentar | Read More

US migrant stats 'can't be produced fast'

US prosecutors say they can't meet demands to deliver documents about thousands of immigrants. Source: AAP

US prosecutors say they can't meet a judge's demands that they quickly deliver documents about thousands of immigrants who've been detained across the country for months or years as their immigration statuses are reviewed.

The office of US Attorney Preet Bharara laid out the government's position to US District Judge Richard M. Berman in a letter made public on Wednesday.

The letter came five days after the judge criticised the government, saying it had been on notice since the American Civil Liberties Union (ACLU)requested the documents nearly five years ago.

The ACLU eventually filed a Freedom of Information Act lawsuit in Manhattan federal court in 2011 seeking documents from the US Department of Homeland Security and US Immigration and Customs Enforcement.

The ACLU questioned the practice of "prolonged immigration detention - for months, if not years - without adequate procedures in place to determine whether their detention is justified".

It cited a dramatic increase in the number of immigration detainees in recent decades, noting they weren't serving criminal sentences but were being detained by the thousands to ensure they're available for removal from the country if removal is ordered and appeals are exhausted.

The judge said the government's continued refusal to produce documents had stymied efforts to reform a system in which thousands of immigrant detainees, some applicants for asylum, languish in immigration jails longer than six months.

He also attacked as "painstaking and riddled with further delay" the government's process for releasing documents, saying the government hasn't produced any documents since his September 9 order to release documents, and had at times claimed it would take seven years to produce 100 files.

The government, though, said in its letter it is "not feasible" to produce documents from more than 22,000 individual files as ordered but said it can produce a reliable sample of 385 files within 15 months, with rolling releases within eight weeks of a revised order.

In 2009, The Associated Press conducted a computer analysis of an Immigration and Customs Enforcement database obtained under the Freedom of Information Act, finding there were 32,000 immigrants from 177 countries detained, including more than 18,000 with no criminal convictions.

The analysis showed that nearly 10,000 had been in custody more than a month, that 400 of those with no criminal records had been locked up more than a year, that a dozen had been held for three years or more and that one man from China had been incarcerated more than five years.

Many of the longest-term, non-criminal detainees were asylum seekers.

The analysis was referenced in the ACLU lawsuit.

According to a 2001 US Supreme Court ruling, immigrants are supposed to be deported or released within about six months.

The steady increase in the number of immigrants held behind bars grew considerably after Congress passed a pair of laws in 1996 requiring immigrants who committed crimes be locked up for deportation. The numbers continued to rise after the September 11, 2001, terrorist attacks and amid anti-immigrant political rhetoric.


13.23 | 0 komentar | Read More

Indon remembers 170,000 tsunami victims

FLAGS are flying at half-mast and locals have gathered at mass graves as Indonesia's Aceh province marks nine years since it was ravaged by a tsunami that killed 170,000 people.

The province on the northern tip of Sumatra island bore the brunt of the tsunami that devastated the region and affected coastal areas across south and South-East Asia.

"It's been nine years but it feels like it was yesterday," said 50-year-old Makmun Adam, who lost two children and his wife in the tsunami.

"I pray to God that they be given a place in heaven," he said.

Indonesian red-and-white flags will be flown at half-mast for three days to mark the disaster.

The tsunami was triggered by a magnitude-9.3 earthquake off Sumatra and killed an estimated 230,000 people in 13 countries in the Indian Ocean.


13.23 | 0 komentar | Read More

Stocks to watch at close on Tuesday

Written By Unknown on Selasa, 24 Desember 2013 | 13.23

STOCKS to watch on the Australian stock exchange at close on Tuesday:

PPX - PAPERLINX - up 0.1 of a cent, or 2.3 per cent, at 4.4 cents

Paper merchant and packaging supplier PaperlinX will cut 75 jobs in Germany and 65 in the United Kingdom as the group continues to restructure its operations.

RIO - RIO TINTO - down six cents, or 0.09 per cent, at $66.84

Rio Tinto could dump its 19.1 per cent stake in a proposed copper and gold mine in Alaska that has been opposed by the local community and several of Rio Tinto's shareholders.

TCL - TRANSURBAN - up six cents, or 0.9 per cent, at $6.86

Transurban is close to completing the purchase of $475 million of debt held by Sydney's Cross City Tunnel.

WCB - WARRNAMBOOL CHEESE AND BUTTER - steady at $9.25

Canadian dairy firm Saputo has increased its stake in Warrnambool Cheese and Butter to almost 18 per cent.


13.23 | 0 komentar | Read More

Vic shoppers battle last-minute crowds

LEGO and Barbie have been selling for more than 100 years between them but are still among the most sought-after Christmas gifts in Victoria this festive season.

Shoppers leaving it late had to battle big crowds throughout the state, with around seven per cent of Victorians buying last minute presents on Christmas Eve, the Australian National Retailers Association (ANRA) says.

More than $1.46 billion will be spent nationwide in the two days before Christmas, with Victorians stumping up around $233 million on presents alone.

David Jones regional manager Lyn James said despite continuing growth in online shopping, many Victorians still preferred to visit retail stores and purchase gifts personally.

"People love the stores and the experience of being able to touch and feel what they want to buy," Ms James said on Tuesday.

"The trend is definitely around the very last minute," she said.

"This Christmas for children it has been about Lego and Barbie," Ms James said when asked about top selling items.

For adults, it's all about smelling good this festive season with perfumes and cologne among the top stocking stuffers.

Retailers are predicting about $29.6 billion in sales across the Christmas period, a jump of 5.4 per cent on 2012.


13.23 | 0 komentar | Read More

Alleged Hells Angel charged over drug haul

AN alleged Hells Angels bikie has been charged after a police raid uncovered crystal methylamphetamine with a street value of $42,000.

Police also seized $1190 in cash and a small amount of cannabis during the search of a home at Brassall, in Ipswich.

A 30-year-old Brassall man has been charged with two counts of supplying dangerous drugs and one count of possessing dangerous drugs, possessing drug paraphernalia and possession of explosives (ammunition and fireworks).

He will face the Brisbane Magistrates Court on Friday.


13.23 | 0 komentar | Read More

NZ shares rally with 'bargain-hunting'

Written By Unknown on Senin, 23 Desember 2013 | 13.23

NEW Zealand shares have rallied as offshore investors saw value in a market that has lagged global peers in recent days.

The NZX 50 Index rose 41.444 points, or 0.9 per cent, to 4722.635 on Monday. Within the index, 33 stocks rose, 11 fell and six were unchanged. Turnover was $93 million.

A2 Corp led gainers, rising 6.7 per cent to 80 cents.

Hallenstein Glasson Holdings rose 4.5 per cent to $3.70, leading some retailers higher after Paymark said spending in the first three weeks of December was 6.9 per cent up on the same period last year, suggesting retailers may be in for a strong Christmas.

Michael Hill International rose 3.7 per cent to $1.41 and Kathmandu rose about three per cent to $3.48. Warehouse Group slipped 0.5 per cent to $3.65.

Among market heavyweights, Fletcher Building rose 1.8 per cent to $8.54 and Telecom rose 1.3 per cent to $2.34. Auckland International Airport gained two per cent to $3.55.

"There's been a few people looking to pick up a bargain," said Greg Easton, an adviser at Craigs Investment Partners.

"We've lagged the rest of the world."

Guinness Peat Group fell 1.7 per cent to 58.5 cents after saying the UK Pensions Regulator had issued warning notices over two of its pension plans.

Chorus, the network operator, fell 1.4 per cent to $1.445.


13.23 | 0 komentar | Read More

Stocks to watch at close on Monday

STOCKS to watch on the Australian stock exchange at close on Monday:

AIO - ASCIANO - up 3.00 cents, or 0.53 per cent, at $5.70

TOL - TOLL HOLDINGS - up 5.00 cents, or 0.91 per cent, at $5.57

Transport group Toll will provide Asciano with at least 90 per cent of its Queensland rail freight volumes from next year in a new 13-year deal between the companies.

EGP - ECHO ENTERTAINMENT - up 14 cents, or 6.09 per cent, at $2.44

The managing director of Sydney casino The Star has resigned to take a job overseas.

GFF - GOODMAN FIELDER - up 1.5 cents, or 2.31 per cent, at 66.5 cents

Food producer Goodman Fielder is selling its biscuits business in Australia to Green's Foods, generating proceeds of $17 million.

JFX - JAMES HARDIE - down 1.00 cents, or 0.08 per cent, at $12.55

Building products maker James Hardie Industries and the New Zealand Ministry of Education have reached a confidential settlement over leaky school buildings.

LEI - LEIGHTON HOLDINGS - up 67 cents, or 4.36 per cent, at $16.04

Leighton Holdings-owned Thiess has won a $230 million, one-year contract extension at Glencore Xstrata's Mt Owen Coal Mine in the NSW Hunter Valley.

NCM - NEWCREST MINING - down 16 cents, or 2.08 per cent, at $7.54

Australia's largest gold miner is facing a class action from shareholders over its massive financial writedown.

NHF - NIB HOLDINGS - up 6.00 cents, or 2.46 per cent, at $2.50

Health insurer nib is lifting its premiums by an average of almost eight per cent.


13.23 | 0 komentar | Read More

Goodman Fielder sells biscuits business

FOOD producer Goodman Fielder is selling its biscuits business in Australia to Green's Foods, generating proceeds of $17 million.

But the company will record a non-cash impairment of between $50 million and $55 million in its half year accounts as a result of the sale.

The business produces sweet and savoury biscuits, with brands including Paradise, Cottage, Vive and Veri Deli.

Goodman Fielder chief executive Chris Delaney said the transaction was consistent with the company's strategy of focusing on core categories and brands.

Goodman Fielder also produces spreads, flour and dressings, with brands including MeadowLea, Olive Grove and White Wings.

"The biscuits business is not core to our grocery division, and we formed the view that this business can maximise its potential under different ownership," Mr Delaney said.

Green's, which is Australian-owned and operated, said the acquisition would secure the jobs of more than 300 employees.

It said the acquisition of Goodman Fielder's biscuits business would make Green's the second largest Australian-based biscuit manufacturer and the largest Australian-owned biscuit company.

The transaction is expected to be completed by the end of February 2014.

Shares in Goodman Fielder were 1.5 cents higher at 66.5 cents on Monday.


13.23 | 0 komentar | Read More

Iraqi general among 24 killed in attack

Written By Unknown on Minggu, 22 Desember 2013 | 13.23

Twenty-four Iraqi military personnel have been killed in an attack in western Iraq. Source: AAP

TWENTY-FOUR Iraqi military personnel, including a senior commander, have been killed in an attack in western Iraq, according to police.

A series of back-to-back bombings on Saturday occurred as troops were raiding a hideout of insurgents with suspected links to al-Qaeda in Anbar, west of Baghdad.

The senior officer killed was identified as Major-General Mohammed al-Karawi, the commander of the Iraqi army's Seventh Division.

The dead also included intelligence officers, police said.

At least 35 soldiers were wounded in the attack, which prompted the authorities to put security forces on heightened alert in the mainly Sunni province, media reports said.

Military reinforcements have been sent to Anbar in preparation for the launch of a large-scale campaign in the area, reports said.

In the aftermath of the attack, Prime Minister Nuri al-Maliki vowed an "iron-fist" policy to tackle the insurgents.

"I call on personnel of our brave army to strike with an iron fist against the heads of the evil minority, and pursue them everywhere until Iraq is purged of their wickedness," he said.

An increase in attacks by insurgents in recent months has raised the prospect of a return to the violence that pushed Iraq to the brink of civil war in 2006 and 2007.

According to UN estimates, 659 people were killed in attacks in Iraq in November.


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Hot air balloon lands in Melbourne carpark

THE pilot of a hot air balloon has been praised for his emergency landing in a Melbourne carpark without any of the 10 people aboard being injured.

The balloon came down in the carpark of an apartment building in the inner suburb of Balaclava on Sunday morning.

Everyone walked out of the balloon without a cut or scratch.

Victoria Police Sergeant Barney Wursthorn said the successful emergency landing was a testament to the pilot's skills.

"He's pretty much put the basket down where he wanted to and chosen a parking spot here in the carpark," he told reporters at the scene.

"It's quite a good effort by the pilot."

He said the pilot had to make a controlled landing after having problems with the wind.


13.23 | 0 komentar | Read More

Man critical after CBD assault

Police would like to speak to this man in relation to a serious assault in Brisbane's CBD early Sunday morning. Source: Supplied

Police would like to speak to this man in relation to a serious assault in Brisbane's CBD early Sunday morning. Source: Supplied

A MAN has come forward over a bashing in Brisbane CBD overnight, which left another man with critical injuries.

A man voluntarily attended Petrie police station a short time ago and is currently speaking with detectives.

The other man is still in hospital in a critical condition with life threatening injuries.

EARLIER, police relased CCTV images of a man as part of ongoing investigations into the serious assault of a man in Brisbane's CBD.

Police are searching for a man who intervened in a couple's fight, seriously injuring a 38-year-old man in the early hours of Sunday morning.

The couple were arguing on the footpath of Queen Street near the intersection with Wharf Street around 4am when an unidentified man stepped in, seriously injuring the 38-year-old.

Brisbane region detective inspector Ian Park said the partner of the injured Arana Hills man was by his bedside in hospital.

"She's very upset obviously by what's happened," he said.

He said the man today remained in Royal Brisbane and Women's Hospital in a critical condition with serious injuries after being resuscitated at the scene.

Insp Park said alcohol may have been a factor.

"I guess it's a fair assumption that at 4 o'clock there is going to be alcohol involved, so we would appeal to people to just be careful with alcohol and look after themselves and each other and not to drink to excessive levels, which is always a deadly cocktail."

There were reports that people performed CPR on the man before paramedics arrived.

Alessandro Vosolo, who is staying on the 44th floor of the building, said the fight sounded violent and lasted less than four minutes.

"Fighting, screaming, arguing like guys getting thrown around, that sort of thing," he said.

One witness said he was on the 20th floor of the hotel and heard the fight.

"A dude got beat up... We heard it but then police rocked up."

Police insp Park said a number of witnesses had already been interviewed but appealed for more people to step forward, particularly the man, understood to be Caucasian and in his 30s, who was involved in the fight.

The injured man was taken to the Royal Brisbane and Women's Hospital in a critical condition.

"Initial information suggests that a man and a woman were seen arguing on the footpath of Queen Street near the intersection with Wharf Street when another man intervened just before 4am," police said in a statement.

Police said the two men were then involved in a fight in which a 38-year-old Arana Hills man sustained a serious head injury.

-----

Detective inspector Ian Park said police were also investigating the assault of a man who got into a fight with a hotel staff member at the Orient about 4.30am.

A 37-year-old man fell down the stairs and suffered serious head injuries when his head hit the concrete pavement.

"I believe the may have been a disagreement between this person and a staff member but as to what actually took place is subject to investigation," Insp Park said.

The man was taken to the Princess Alexandra Hospital where he is in a serious condition.

-----

In a third incident, a man was allegedly glassed in the face at the Family Nightclub on McLachlan St in the Fortitude Valley about 3am Sunday.

Police said a 19-year-old was struck in the face with a glass, receiving cuts to his cheek area. Police said the man did not have life-threatening injuries.

A spokesman said security staff and patrons stopped the alleged attacker and held him until police arrived.

A 20-year-old Calamvale man has been charged with assault occasioning bodily harm. He is due to appear in the Brisbane Magistrates Court on Monday morning.


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Vic teenagers bash man, steal car: police

Written By Unknown on Sabtu, 21 Desember 2013 | 13.23

A GANG of teenagers attacked and robbed a Melbourne man in the hallway of his residential care home before they fled with his car, police say.

The teenagers, aged 14 to 17, had been driving for hours towards the NSW border when they were finally stopped about 250km from the man's home, a police spokeswoman said.

Two of them jumped out of the car and fled into the bushes, only to be flushed out by the dog squad about an hour later.

The teens, who are still being questioned, are accused of assaulting the 47-year-old man in Dandenong around 1am (AEDT) on Saturday.

The man had to be taken to hospital following the attack, where he had his personal belongings and car stolen.

Police later spotted the car north of Melbourne near Kilmore, but had to call off a pursuit when it failed to pull over and kept driving on the wrong side of the highway.

The car ran over a spike belt around 5.30am near Winton.

The two girls and three boys were arrested at the scene but have not yet been charged.


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Retrieval underway after abseiler dies

An abseiler has fallen to his death and a woman has been lifted to safety in the Blue Mountains. Source: AAP

POLICE are working to retrieve the body of an abseiler who fell to his death in the Blue Mountains.

The man in his 30s was abseiling with a woman in her 20s at Malaita Point, a popular abseiling spot on the edge of the Jamison Valley, near Katoomba, on Saturday morning.

Emergency services were called around 8.30am (AEDT) after the woman became tangled in ropes, about 20 metres down a cliff.

It is believed the man then plummeted to the cliff base.

An operation to retrieve his body was underway about 4pm on Saturday.

The woman was winched to safety at about 1.30pm and wasn't injured, NSW Ambulance duty operations manager Murray Traynor said.

A rope system was used to haul her to the top of the cliff in a rescue operation involving ambulance and police helicopters.

Police will investigate the incident.


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Brisbane man accused in US over Silk Road

US prosecutors have accused Brisbane man Peter Phillip Nash of being one of the central figures in the hidden, encrypted internet "black-market bazaar" Silk Road.

It is alleged the Silk Road website was used by several thousand drug dealers to distribute hundreds of kilograms of heroin, cocaine, LSD and other illegal drugs and illicit goods to more than 100,000 buyers around the world over the past two and a half years.

Nash, 40, was employed since January 2013 by Silk Road's San Francisco-based owner Ross William Ulbricht, known by the alias Dread Pirate Roberts, as the primary moderator of the website's discussion forums, prosecutors said.

Nash, who went by the aliases "Batman73" and "Anonymousasshit", was named in an indictment unsealed on Friday by prosecutors in New York.

He was arrested in Brisbane by Australian Federal Police on Friday and faces extradition to the US.

Two other alleged Silk Road employees, Andrew Michael Jones, 24, of Virginia, and Gary Davis, of Ireland, were also named in the indictment.

Ulbricht paid the site administrators and forum moderators salaries ranging from approximately $US50,000 to $US75,000 ($A56,590 to $A84,885) per year for monitoring user activity on the Silk Road website, responding to customer service inquiries and resolving disputes between buyers and vendors, it is alleged.

The trio is charged with one count of money laundering conspiracy, which carries a maximum sentence of 20 years in US federal prison.

They are also charged with narcotics conspiracy and conspiracy to commit computer hacking.

Ulbricht was arrested in San Francisco on October 1.

Preet Bharara, the US attorney for the southern district of New York, praised the help of the Australian Federal Police with the investigation into Nash.


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iBuy makes positive ASX debut

Written By Unknown on Jumat, 20 Desember 2013 | 13.24

SHARES in retail website operator iBuy closed more than four per cent above their issue price on their first day of trading on the Australian Securities Exchange.

iBuy finished trading on Friday at 33.5 cents, 1.5 cents or 4.69 per cent, above their issue price of 32 cents.

The company traded within a range of 32 cents to 35.5 cents.

More than 14 million shares changed hands.

iBuy listed on the ASX after raising $37 million in a public offer of new shares.

iBuy will use some of the funds raised to finalise the acquisition of four e-commerce businesses in Hong Kong, Singapore and Malaysia that specialise in "flash sales" - online sales of goods and services to the public at discounted prices for a limited time.


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Hockey calls for disaster inquiry

THE federal coalition wants the Productivity Commission to look at how much the nation spends on disasters and how to help communities recover in a sustainable way.

Treasurer Joe Hockey says most existing disaster funding models are weighted towards response and recovery, with a focus on immediate humanitarian and economic relief and restoration of infrastructure to its previous standard - instead of longer-term resilience.

He has asked the commission to examine the full scope of national expenditure on disasters and the effectiveness of current mitigation support arrangements, which help prevent similar events from affecting communities the same way in the future.

"Further, the commission will be asked the best ways to reduce the impact of natural disasters on communities and how they recover in a sustainable way," Mr Hockey said in a statement on Friday.

Opposition leader Bill Shorten said cutting support for bushfire victims is wrong.

"But that's exactly what the Abbott government has done in the Blue Mountains," he told AAP.

"My concern is this review will become another excuse for the government to make savage cuts."

The Insurance Council of Australia said it was a positive step towards improving community resilience and it looks forward to helping the inquiry.

"Though disaster response and recovery are an essential component of government relief efforts, the insurance industry believes mitigation infrastructure has long-term benefits for exposed communities and the taxpayer," the council said in a statement.

Deloitte Access Economics estimates the total economic cost of natural disasters in 2012 was more than $6 billion.

In the last five years, natural disasters around the country have claimed more than 200 lives and devastated hundreds of thousands of Australians.


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Warrnambool says Saputo offer is best

TAKEOVER target Warrnambool Cheese and Butter says the latest offer made by Canadian suitor Saputo is superior to a rival bid from Murray Goulburn.

Saputo's offer is considered superior in terms of value, certainty and timing, Warrnambool Cheese said on Friday.

The Canadian firm sweetened its offer earlier this week, in line with undertakings made to the Takeovers Panel.

Its earlier unconditional offer of $9.00 per Warrnambool share, and an increase of 20 cents if it attained more than 50 per cent of the shares, remained unchanged.

But the offer will increase to $9.40 if Saputo obtains more than 75 per cent of Warrnambool shares, and to $9.60 if it surpasses 90 per cent.

Murray Goulburn is offering $9.50 for each Warrnambool share, but it is conditional upon obtaining more than 50 per cent of the target's shares.

However, Murray Goulburn's offer has not been declared final.

Warrnambool has recommended that its shareholders reject the Murray Goulburn offer.

The final Saputo offer was unconditional, meaning that accepting shareholders would receive a minimum of $9.00 cash per share irrespective of the level of acceptances, Warrnambool said.

The Murray Goulburn offer remains subject to authorisation by the Australian Competition Tribunal, which will deliver its decision by February 28 at the earliest.

Warrnambool chairman Terry Richardson said Murray Goulburn's offer was highly conditional and carried significant risk.

Meanwhile, the company said it expects earnings in the half year to December 31 to almost double from the same period last year, when it had earnings of $29.3 million.

Improved market conditions in the final three months of the 2012/13 financial year had continued into the 2013/14 financial year, Warrnambool said.


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Video of police assault could go public

Written By Unknown on Rabu, 18 Desember 2013 | 13.23

VIDEO footage of a former policeman apparently punching and kneeing a prisoner in the head could be released next week after the West Australian Court of Appeal dismissed a legal challenge from the officer.

The footage was revealed during public hearings held by the state's corruption watchdog looking into alleged misconduct by police at the Broome watch-house.

The hearings came after two alleged violent arrests involving the same officer this year.

In the footage, the officer appears to drag one man through the station by the neck, then punch and knee another inmate who was shown flying headfirst onto a concrete floor while handcuffed.

The arrests prompted the Corruption and Crime Commission (CCC) to investigate, and Commissioner Roger Macknay ordered the footage could be released to the media.

But Karen Vernon, the lawyer for the former policeman whose name has been suppressed, lodged a Supreme Court injunction against the release.

Justice Andrew Beech rejected all three grounds of the appeal in June, saying he did not accept that the commissioner had erred.

Ms Vernon lodged an appeal against that decision, claiming the release of the footage was not in the public interest.

The Court of Appeal dismissed that application on Wednesday, but Ms Vernon sought a further delay to consider a possible High Court appeal.

However, the CCC plans to table its report into the matter in parliament on Monday, and the footage will be included.

Ms Vernon indicated she would try to seek an agreement from the CCC not to release the footage next week.


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First death from new bird flu strain

A 73-YEAR-OLD woman in China has been confirmed as the first person to die from a new strain of avian influenza, health experts said.

The unidentified woman died of respiratory failure on December 6, six days after she was admitted to a hospital in the eastern province of Jiangxi suffering from severe pneumonia, the provincial health authority said.

Tests confirmed that she was infected with the H10N8 bird flu virus, which was not previously detected in humans, it said.

Medical staff monitored the woman's close contacts but found no similar symptoms, leading experts to conclude that "we should initially consider it an isolated case."

"There is low risk that the virus can cause human infection and transmission," the health authority said.

The woman had reportedly visited a live poultry market.

China has reported 142 cases, including 45 deaths, of another new bird flu strain, H7N9, since it was first detected in March.

In October, the World Health Organisation said it found no evidence of "sustained human-to-human transmission" of the H7N9 virus.


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This story has been removed

Police assault video could go public

Police assault video could go public

VIDEO footage of a former policeman apparently punching and kneeing a prisoner in the head could be released next week after a failed legal challenge.

Bigger aerial water bomber capacity

Bigger aerial water bomber capacity

WA'S $12 million aerial firefighting fleet now has its largest waterbombing capacity as the State prepares for a predicted severe bushfire season.

Barnett: What if a child was taken?

Barnett: What if a child was taken?

THE introduction of bait and kill zones for massive sharks in WA waters was prompted by the fear of a child being killed, Premier Colin Barnett says.


13.23 | 0 komentar | Read More

Study exposes teenage weight fears

Written By Unknown on Selasa, 17 Desember 2013 | 13.23

A UK study's found one in 10 teenage girls have extreme levels of fear about gaining weight. Source: AAP

ONE in 10 teenage girls have "extreme levels of fear" about gaining weight, a UK study suggests.

Eleven per cent of 13-year-old girls suffer intense worry about getting fat compared with 4.7 per cent of boys the same age.

Researchers from the University College London Institute of Child Health and the London School of Hygiene and Tropical Medicine also discovered that most teenage girls worry about gaining weight.

They also found that a third of girls and one in five boys are upset or distressed about their weight and shape.

Examining data concerning 7000 children, who are part of the University of Bristol's Children of the 90s study, the authors found that 26 per cent of girls and one in seven boys had restricted their food intake by fasting, skipping meals or throwing away food.

And 53 per cent of girls and 41 per cent of boys had avoided fatty foods.

The authors cautioned that eating problems had an impact on children's mental health and their social, personal and family life.

"We have found that behaviours typical of an eating disorder are more common in early adolescence than previously thought. Not just in girls but also in boys," said lead author Dr Nadia Micali.


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Pact Group makes shaky share market debut

SHARES in packaging manufacturer Pact Group finished more than 12 per cent lower in a lacklustre share market debut.

The company was formed in June 2002 and sells rigid and metal packaging products in Australia, New Zealand and Asia.

Pact raised $649 million by issuing shares at $3.80 each in a public offer that valued the company at $1.1 billion.

The shares began trading at 1215 AEDT on Tuesday, and fell by as much as 10.8 per cent in early trade.

They finished 48 cents, or 12.63 per cent, at $3.32.


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Researchers discover 'small dog syndrome'

SMALL dogs may suffer from a canine equivalent of short man syndrome, researchers believe, making them more aggressive and prone to mount people and objects.

Regardless of breed, the smaller the dog is, the more likely it is to be unruly, aggressive, noisy and prone to "humping", according to a study by the University of Sydney.

"Our research shows that certain physical characteristics in dogs are consistently associated with certain types of behaviour," said Professor Paul McGreevy from the Faculty of Veterinary Science.

"Essentially, the shorter the dogs the less controllable their behaviour is for their owners.

"Undesirable behaviours such as owner aggression, or mounting, occur more often among small dogs."

The study, published in journal PLOS One, examined owners' reports of 8000 dogs from across 80 breeds. It found that 33 of 36 undesirable behaviours in dogs could be associated with height, body weight and skull shape.

"When average body weight decreased, excitability and hyperactivity increased," said Professor McGreevy.

Further studies will address whether these bad behaviours seen in small dogs are a result of nature or nurture.

"This suggests that, in small dogs, these behaviours are tolerated more than they would be in larger dogs where such behaviours are more unwelcome and even dangerous."

"Equally, such behaviours in small dogs may be a result of their being overindulged and over-protected," he said.


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Aurizon to cut rail fleet, cancel project

Written By Unknown on Senin, 16 Desember 2013 | 13.23

FREIGHT and coal haulage operator Aurizon will take a hit of almost $200 million as it cuts the size of its rail fleet and cancels a major Queensland project.

The company, previously known as QR National, is reducing its locomotive fleet by 28 per cent and cutting the number of wagons by 12 per cent in a bid to bring down fuel and maintenance costs.

Aurizon's downsizing will appear as an asset impairment expense of $130 million to $150 million in its accounts for the first half of the 2013/14 financial year.

The company will also incur a $47 million impairment on recent changes to several projects, including Glencore Xstrata's decision to stop the Wandoan project because of weakening thermal coal prices.

Aurizon had proposed a 210 kilometre Surat Basin rail corridor from the Wandoan mine in a joint venture with the Swiss multinational.

"There's not any job losses that are related to that," chief executive Lance Hockridge told reporters on Monday.

In July, Aurizon launched a second voluntary redundancy program in a bid to save $230 million by 2015.

Some 248 voluntary redundancies have since been accepted.

"I think the bulk of it is done," Mr Hockridge said.

More than 2,000 employees have left the company since it was privatised by the former Queensland Labor government in 2010.

Mr Hockridge said he was "cautious but confident" about the thermal coal sector, as well as the future of projects in Queensland's Galilee Basin, where Aurizon has agreed to develop a rail project for the GVK-Hancock joint venture involving billionaire Gina Rinehart.

Aurizon shares dropped two cents to $4.68.


13.23 | 0 komentar | Read More

Kiwi extends gains over Aussie dollar

THE New Zealand dollar has extended its rally against its trans-Tasman counterpart as the divergence between the neighbouring economies makes New Zealand interest rates more attractive.

The kiwi rose as high as 92.49 Australian cents on Monday, the highest since October 2008, trading at 92.40 cents at 5pm in Wellington from 92.26 cents on Friday in New York.

The NZ dollar traded at 82.78 cents from 82.56 cents at 8am and 82.63 cents on Friday in New York.

The kiwi has been making fresh five-year highs against its Australian counterpart as the slowing economy in Australia and burgeoning local recovery underline the different stages of the interest rate cycle each nation's central bank is in.

New Zealand's Reserve Bank is keen on hiking rates next year, while Australia's is sitting on record-low rates to keep the stimulus coming.

Investors will be looking to see any hint of an easing bias when the minutes to this month's Reserve Bank of Australia policy meeting are released on Tuesday.

"Their central bank is quite determined to get the Aussie dollar lower to get a more sustainable mix in their economy," said Dan Bell, head of corporate sales at HiFX in Auckland.

"It looks like the kiwi/Aussie could get up to the 95 cent level" over the next month before it "runs out of puff," he said.

The kiwi fell to 85.04 yen at 5pm in Wellington from 85.31 yen on Friday in New York, and was little changed at 60.16 euro cents from 60.19 cents.

The trade-weighted index was steady at 77.92 from 77.90.


13.23 | 0 komentar | Read More

Wesfarmers sells underwriting operations

DIVERSIFIED conglomerate Wesfarmers is selling its Australasian insurance underwriting operations to Insurance Australia Group (IAG) for about $1.85 billion - its biggest ever divestment.

Wesfarmers managing director Richard Goyder said the sale followed approaches by a number of parties that were interested in the underwriting business.

Wesfarmers had spent a lot of money in recent years getting the Australian and New Zealand insurance underwriting business into much better shape.

"But it hasn't delivered satisfactory returns on average over the last five years to Wesfarmers," Mr Goyder told reporters.

"And over a period of time, if any of our businesses don't generate satisfactory returns, we'll look and see what we do with it."

Mr Goyder said the sale of the insurance underwriting business also reduced some of the risk in Wesfarmers' portfolio of industrial, mining, retail and financial businesses.

There was inherent volatility in the insurance business because of catastrophic events like earthquakes in New Zealand, and Cyclone Yasi.

The sale does not include the insurance division's broking operations in Australia, New Zealand and the UK, and its Australian and New Zealand premium funding businesses which will remain part of Wesfarmers.

Wesfarmers expects a pre-tax profit of about $700 million to $750 million from the transaction, which will be included in the financial results for the second half of the 2014 financial year.

Mr Goyder said Wesfarmers had not yet decided what to do with the proceeds from the sale.

The sale is subject to regulatory approval, which is expected to take several months.

The acquisition comprises Wesfarmers' underwriting companies trading under the WFI and Lumley Insurance brands, and a 10-year distribution agreement with Coles.

IAG chief executive Mike Wilkins said the acquisition was a compelling strategic fit for IAG.

"Acquiring these businesses supports the group's strategic priorities of accelerating profitable growth in Australia and sustaining our market-leading position in New Zealand, and we expect attractive EPS (earnings per share) accretion," Mr Wilkins said.

IAG expects the acquisition will lift earnings per share by a modest amount in the first full year of ownership and by at least five per cent in the second year.

The acquisition will be partly funded from a $1.2 billion placement of shares to institutional investors, at $5.47 per share.

The integration of Wesfarmers' underwriting businesses is expected to generate pre-tax net benefits of about $140 million a year, with a significant proportion derived from reinsurance.

The integration process is expected to be substantially complete within two years, with pre-tax integration costs of $120 million.

Shares in Wesfarmers were 20.5 cents higher at $41.51 at 1515 AEDT. IAG shares are in a trading halt until the start of trading on Wednesday, December 18. They last traded at $5.70.


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I don't expect marriage bill, says Abbott

Written By Unknown on Minggu, 15 Desember 2013 | 13.23

PRIME Minister Tony Abbott says he does not expect gay marriage legislation to come before parliament, despite a senior colleague saying it is "likely" coalition MPs will be allowed a conscience vote on the issue.

As attention shifts from the High Court's decision to strike down ACT gay marriage laws, Liberal MP Malcolm Turnbull said if he were given a free vote "I will certainly vote in favour of a marriage equality bill".

Legislation to allow gay marriage was voted down in the last parliament, with then opposition leader Tony Abbott refusing to allow his party a conscience vote.

But Mr Turnbull, a supporter of gay marriage, believed that could change if the issue is revisited in the next three years.

"I think it is likely that we will (have a free vote), but as Tony Abbott has said, it is a decision for the party room, not for him," he told Sky News on Sunday.

Mr Turnbull said it was too early to predict whether the new parliament would back same-sex marriage legislation, but added that Australia was lagging behind other countries such as New Zealand, the UK, Canada and the United States.

"So people of the same sex can get married in Auckland and Wellington, Toronto and Ottawa and Vancouver, in New York and Los Angeles, and Baltimore, in Cape Town, but not Australia," Mr Turnbull said.

"It does start to look as if we're the ones out of step."

However, Mr Abbott gave no indication of allowing a free vote on same sex marriage, instead saying he did not expect legislation to come before the parliament.

"I'm not expecting any legislation to come before the parliament because when legislation came before the last parliament it was fairly decisively dealt with," the prime minister told reporters in Sydney.

"But if legislation comes before the parliament, it will be considered by our party room in the usual way.

"It is really up to individual members of parliament to propose private member's bills if that's what they want."

Deputy Labor leader Tanya Plibersek has announced she will introduce a private member's bill to legalise gay marriage, but only if Mr Abbott allows a conscience vote.

She has also called on Mr Turnbull to co-sponsor the legislation, but the eastern Sydney MP ruled out such a move.

"I can't co-sponsor a private member's bill because I'm a member of the cabinet," Mr Turnbull said.

Gay marriage advocate Rodney Croome said Mr Turnbull's comments reflected growing support within the coalition for a conscience vote and the principle of marriage equality.

"An increasing number of Australians feel embarrassed by the fact that marriage equality has moved forward in countries that are our closest friends and allies, including New Zealand, the UK, the US and Canada," Mr Croome said in a statement.

The Greens Sarah Hanson-Young last week introduced a same-sex marriage bill into the Senate.


13.23 | 0 komentar | Read More

Cop punch victim gives statement

Video captures police officers apparently punching and kicking a man in Brisbane's Fortitude Valley. Courtesy Joe Smith

DETECTIVES from the Ethical Standards Command have interviewed the man at the centre of police brutality allegations.

Beau Hall said he provided a statement to detectives last night and was told he would receive a letter in a month informing him of the status of their investigation.

A statement released by police this afternoon said detectives were available to speak to anyone ``directly involved in this incident'' should they wish to lodge a formal complaint.

``At this time, no officer has been stood down or suspended from duty in relation to this incident,'' the statement said.

Beau Hall, 19, was filmed being punched and kicked by police in Fortitude Valley on Friday night. Picture: Adam Smith

Mr Hall, 19, told The Courier-Mail today he was unable to work last night because of soreness in his calf where he was allegedly kicked repeatedly by police outside a Fortitude Valley nightclub.

He will visit a doctor today to have his injuries assessed.

Mr Hall said he disagreed with comments from Queensland Police Union president Ian Leavers, who said the actions of the officers involved were ``entirely professional''.

Amateur video captures a man being punched and kicked by police in an apparently unprovoked attack in Fortitude Valley.

He said he does not know what caused the officers to become violent because his memory of the incident is ``hazy''.

``They can't say it was professional,'' he said. ``They could have chatted to me and sorted it out. They could have handcuffed me and that would have been it.

``I have talked to police in the past and never had a problem.''

Motorists watch as a man is punched and kicked by police in an apparently unprovoked attack in Fortitude Valley.

Earlier, Mr Hall said he was too drunk to fully recall the run-in with three officers but did not deserve the brutal treatment caught on camera.

"I'm shocked at what the police have done to me. It's been uncalled for," Mr Hall told The Sunday Mail yesterday.

HOW THE STORY BROKE ONLINE YESTERDAY

Amateur footage shows a man being punched and kicked by police in an apparently unprovoked attack in Fortitude Valley.

"You can clearly see I didn't provoke anything towards them.

"If I did say something to them, it shouldn't be the worst case scenario and physically attack me. They should have just handcuffed me."

Shocking video footage shows Mr Hall talking to police next to the Beat nightclub at 11.24pm Friday before an officer lashes out with a punch.

A second officer appears to kick Mr Hall as he is handcuffed and arrested.

Queensland Police Union president Ian Leavers said the officers would be "completely vindicated" when the facts emerged.

"Having spoken with police familiar with the incident, I can confirm all police involved acted in an entirely professional, appropriate and responsible manner and their actions will be vindicated and put in context when all the evidence of this matter becomes public," he said.

"I am informed the brief few seconds of footage that have been filmed by a bystander do not accurately portray or represent the entirety of the police interaction with the offender."

But Mr Hall says he will press charges after viewing the video of the arrest and is due to see a doctor today to assess injuries.

He had initially declined to make a complaint when internal investigators from Ethical Standards Command interviewed him at Roma St headquarters yesterday.

"I had no idea what the police officers did to me, but when I saw the footage on the news I rang them back up and said I want to press charges now," he said.

Mr Hall, a gaming attendant at a south Brisbane sports club, said it was his first run in with the law.

He was on a night out with a friend visiting town from Sydney and admits he had "too much to drink".

He was earlier kicked out of Ric's Bar and was walking along Ann St when he urinated near a bin outside the Beat nightclub.

A bouncer detained him until the three police officers arrived and took him into the adjoining alley.

He recalls the police "giving me a bit of lip" but does not remember doing anything that would have provoked an assault.

"I don't remember getting hit by the police officers because I was that intoxicated," he said.

"But … I'm seeing a doctor tomorrow to get a medical report against them.

"I don't have any bruising from it but my jaw's sore, my head's sore, the back of my calf where they repetitively kicked me is sore. I can't walk on it properly."

He was charged with public nuisance and spent six hours in the Roma St watch-house until being released on bail this morning.

Police have privately suggested Mr Hall may have spat at the officers but he was not charged with assaulting police or resisting arrest and he was not asked to submit to any medical tests.

Joe Ritson, who filmed the incident, said he watched in horror as the arrest escalated into violence.

"I had a feeling something Was going on, I don't know why I was filming," the 24-year-old said.

"He was just standing there, we were watching for a good minute or two, when it happened."

Police were out in force in a crackdown on alcohol-fuelled violence and anti-social behaviour in Queensland entertainment precincts and arrested 101 people.

Brisbane Region Acting Assistant Commissioner Allan McCarthy said policing could be dangerous but officers were trained to deal with difficult situations.

"It is important not to pre-empt the outcome, however the circumstances will be investigated thoroughly to determine if the officers have acted in accordance with the high expectations of the Service," he said.

Queensland Council for Civil Liberties president Terry O'Gorman said the incident showed police working on the beat should wear cameras at all times.

"We get a significant number of complaints from people that police spark the violence themselves," he said.

"There really is a problem with police violence on the street … the more that this police initiated violence becomes obvious, the less people will be prepared to cooperate which will impact their ability to clear up crime."

He said the discipline and complaint process did not deter police from acting violently towards members of the public.

"If police are behaving like that then they're not suitable for the difficulties of streetwork. I accept it is difficult but … they should be trained not to initiate violence."

He said the idea of police carrying cameras was not a radical idea, with the recent Bandido brawl on the Gold Coast showing officers already carried cameras into situations.


13.23 | 0 komentar | Read More

Police officer stabbed in the neck

A 28-YEAR-OLD man has been charged with attempted murder after a north Queensland policeman was stabbed in the neck during a national crackdown on alcohol-fuelled violence.

The officer was stabbed with a knife at a Townsville bar about 12.30am (AEST) on Saturday and was rushed to hospital in a serious condition.

"His injuries were significant but luckily he is fit enough now to continue his recovery at home," a police spokesman told AAP on Sunday.

The 33-year-old officer was taking part in Operation Unite, a blitz on alcohol-related crime across Australia and New Zealand.

His alleged attacker was arrested at the scene.

Another officer sustained an injury to his hand during the incident.

A 28-year-old Townsville man has been charged with attempted murder, serious assault of police while armed, entering premises with intent to commit an indictable offence, possession of a knife in a public place and creating a disturbance in licensed premises.

He was also charged with two counts of obstructing police and is due to appear in the Townsville Magistrates Court on Monday.

Premier Campbell Newman said assaults of police attracted serious penalties.

"Assaults on police are totally unacceptable on all accounts," he told reporters on Sunday.

"People who assault police need to know there are significant penalties."

The maximum penalty for assaulting a police officer was increased from seven to 14 years and the murder of a police officer attracts a non-parole period of 25 years under tough penalties introduced by the Newman government last year.

A total of 430 arrests were made in Queensland during the crackdown on alcohol-fuelled assaults, anti-social behaviour and drink-driving across Australia and New Zealand since Friday night.


13.23 | 0 komentar | Read More

Probe into alleged attack by Qld cops

Written By Unknown on Sabtu, 14 Desember 2013 | 13.23

POLICE have launched an investigation after footage emerged showing a police officer allegedly punching a man in the face outside a Brisbane nightclub.

The footage, taken by a member of the public, shows three uniformed police officers speaking to a man down an alleyway outside The Beat nightclub on Ann St about 11.30pm (AEST) on Friday.

Bank employee Joe Ritson says he filmed the scene while waiting for a taxi.

"I had a feeling something was going to happen so I started filming it and like three seconds later one of the cops punched him in the face and I was like 'holy crap that is full on'," Mr Ritson told Ninemsn.

"They punched him, pushed him up against the wall and then started kicking him.

"The ute (in the video) kind of obscures it but you can see one of the them kneed him in the back."

Mr Ritson told Ninemsn he doesn't why the police officers had approached the man.

The footage was uploaded to Youtube, but has since been taken down.

A statement from Queensland Police said they were aware of the video and had launched an investigation.

The Ethical Standards Command has also been informed.

Brisbane Region Acting Assistant Commissioner Allan McCarthy said although police were looking into the incident it didn't necessarily mean the officers were at fault.

"This does not mean any allegations or complaints about the officers have been substantiated," he said in a statement.

"It is important not to pre-empt the outcome, however the circumstances will be investigated thoroughly to determine if the officers have acted in accordance with the high expectations of the Service."

Mr McCarthy said all officers are expected to act professionally and ethically in accordance with the service's high standards.


13.23 | 0 komentar | Read More

Dutch poll says 21% 'back more euthanasia'

More than one in five Dutch people believe that euthanasia should be allowed for elderly people. Source: AAP

MORE than one in five Dutch people believe that euthanasia should be allowed for elderly people who are "tired of living", new research suggests.

Of 2000 Dutch people polled, 21 per cent said euthanasia should be allowed for people who no longer wish to live - even if they do not have a serious disease.

Dutch euthanasia law allows doctors to assist suicide for patients who are suffering unbearably from a medical condition with no prospect of improvement.

Hundreds of terminally ill Britons have travelled to receive assisted dying in countries where euthanasia is permitted, reports suggest.

There has been much debate in the Netherlands as to whether euthanasia laws should be extended so doctors can help elderly people who are not seriously ill, but who are simply tired of living, to die.

Researchers decided to examine the level of public support for the matter.

While one in five agreed with the prospect, just over half disagreed and a quarter neither agreed nor disagreed.

Those who supported euthanasia for older people tired of living were more likely to be highly educated and non-religious, researchers said.

Publishing their findings in the Journal of Medical Ethics, they wrote: "Although it is lower than the level of support for assistance in dying for patients whose suffering is rooted in a serious medical condition, our finding that a substantial minority of the general public supports physician assistance in dying for older people who are tired of living implies that this topic may need to be taken seriously in the debate about end-of-life decision-making.


13.23 | 0 komentar | Read More

VW replaces head of struggling US division

AS Volkswagen's US division struggles to reach sales goals, the auto maker said on Thursday it was replacing the division's boss.

The company said Jonathan Browning, 54, was leaving his job as president and chief executive of the Volkswagen Group of America "for personal reasons and returning to the UK".

His replacement is Michael Horn, 51, the company's global head of after-sales service, repair and components. Horn was formerly head of sales for Europe.

Through November, US Volkswagen sales fell more than five per cent to just under 374,000, while the overall market has grown more than eight per cent.

Sales of the compact Jetta sedan fell 4.4 per cent, while Passat midsize sedan sales declined 2.1 per cent, according to Autodata Corp.

This year's decline came after VW sales skyrocketed more than 30 per cent in 2012.

Analyst Thomas Libby at IHS Automotive said that after "very effective" launches of redesigned Passat and Jetta models, Volkswagen had taken a break in updating its offerings.

"There is general agreement that new product is a major factor in performance in the US market, and VW has had a dearth, a pause, in product launches," he said.

Volkswagen also lacks competitive products in some key US market categories. Libby singled out the non-luxury crossover segment, where the company's Tiguan was no longer competitive on price or value comparisons.

The leadership shuffle comes amid a debate over unionising Volkswagen's only US plant in Tennessee. The plant stands alone among VW's major factories worldwide in that it has no formal worker representation, whether through a union or a German-style works council.

The United Auto Workers (UAW) union says it has collected enough signatures to be recognised outright, though the company could also call for a secret ballot.


13.23 | 0 komentar | Read More

Reporter sues Toronto mayor for defamation

Written By Unknown on Jumat, 13 Desember 2013 | 13.23

THE controversial mayor of the Canadian city of Toronto is being sued by a newspaper reporter after he suggested the journalist is a pedophile.

In a TV interview, Rob Ford accused Toronto Star reporter Daniel Dale of taking pictures of children. Ford said he didn't "want to say that word but you start thinking what this guy is all about."

The day after the interview aired, Ford told reporters that he stands by his words. "I stand by every word I said."

Ford's insinuation was related to an instance when Dale was close to the mayor's house in May 2012, investigating a plot of public land adjacent to Ford's home that the mayor wanted to buy.

Dale has said he was writing a story about the plot so he went to take a look at it when the mayor emerged from his home to confront him. Dale said the mayor's two children were nowhere in sight, nor were any children in sight.

Dale said he decided to take action after Ford repeated the accusations on a radio show on Thursday, saying again that Dale was taking photos outside of his house.

Dale said Ford added this: "When you've got young kids, that freaked me right out.

"This isn't quite as egregious as the (first) comment he made, but it brought renewed attention to his malicious and defamatory insinuation ... that I have some sort of predatory interest in young children - that I am a pedophile. I can't tolerate it. I won't tolerate it," wrote Dale in his article.

Dale said the libel notice asks Ford to immediately retract the false insinuation that I am a pedophile and all of his false statements about my conduct on May 2, 2012. Dale said he is also suing Vision TV, which twice broadcast Ford's first remarks. Dale asks that Ford and Vision owner ZoomerMedia apologise immediately "publicly, abjectly, unreservedly and completely."

Allegations about Ford smoking crack surfaced in May when two reporters for the Toronto Star and one from the website Gawker said they saw a video of Ford appearing to smoke from a crack pipe, but they did not obtain a copy. Ford vilified the Star, accusing the paper of trying to take him down.

He admitted last month to smoking crack "in a drunken stupor."


13.23 | 0 komentar | Read More

Bacteria linked to patient deaths in Qld

QUEENSLAND'S chief health officer is confident a Brisbane hospital grappling with a group A streptococcus bacterial outbreak, linked to two patient deaths, has the situation under control.

The deaths of two elderly patients at Greenslopes Private Hospital's rehabilitation centre have been linked to the bacteria outbreak.

Two other elderly patients at the rehabilitation centre have tested positive to the bacteria but are responding well to antibiotics.

The centre's admissions have been suspended as all patients and staff are tested.

Queensland Health said the main hospital building was not at risk because the rehabilitation unit was a separate facility.

Queensland chief health officer Dr Jeannette Young says the hospital has met all the public health guidelines for such an outbreak.

"All patients and staff currently in the unit are being tested and monitored for signs of the infection," Dr Young said.

"I understand all patients discharged from the unit since November 29 are being contacted by the hospital and given information about the symptoms to look out for."

Two men, aged 91 and 95, died at the hospital in the past week. One had pneumonia, the other a bloodstream infection.

They were later found to have the streptococcus bacteria in their bloodstreams.

Dr Young said she was notified of the deaths on Thursday, which is within the mandatory notification period.

Often the bacteria is found in the throat and on the skin and can cause minor symptoms such as a sore throat.

But in rare cases it can invade the bloodstream or the lungs and cause life-threatening illnesses, typically in people with compromised health, such as the elderly.

A legionnaires' disease outbreak was at the private Wesley Hospital this year.

Linked to the hospital's water system, that outbreak led to the death of a cancer patient in his 60s. Another patient was put in intensive care.

The Wesley was effectively shut down for about a fortnight and hospitals throughout the state were tested for the bacteria.


13.23 | 0 komentar | Read More

PA 'saw signs of drugs at Lawson home'

Nigella Lawson's ex-PA told a UK court she saw evidence of regular drug use by the celebrity cook. Source: AAP

A PERSONAL assistant accused of defrauding Nigella Lawson and Charles Saatchi has told a London court she saw evidence of regular drug use by the celebrity cook.

Elisabetta Grillo, 41, said she found various signs that Lawson was using cocaine, including a packet of white powder found in a toilet in the home she shared with former husband, John Diamond, as well as rolled-up banknotes and credit cards with white powder on them.

Asked if she had ever seen Lawson taking drugs, Grillo - who is also known as Lisa - said "No".

But she told Isleworth Crown Court in west London that she was aware that Lawson had taken drugs and, when pressed by barrister Anthony Metzer QC about what type of substances, she said cocaine and cannabis.

Grillo, who worked for Lawson as an au pair, said she did not confront the 53-year-old about the issue as she didn't want to embarrass her.

Italian-born Grillo, who is accused alongside her sister Francesca of defrauding Lawson and Saatchi, said that when she was living with Lawson in Shepherd's Bush around a year after she first started working for her and then-husband Diamond, she found a small packet of white powder in the toilet while cleaning.

She told the court: "I was cleaning the house and I noticed a little packet on top of the loo, toilet.

"I opened it because it was kind of a little funny envelope and I saw white powder."

On other occasions she found rolled-up notes - on one occasion a 20 pound note - with white powder on them.

"Once I noticed a credit card with white, and a CD, like a music CD, with white stuff," she said.

Grillo also told the court she found similar evidence when Lawson moved in with Saatchi at his home in Eaton Square.

She said that in a drawer in Lawson's office she found rolled-up banknotes, including American dollars.

Asked by Mr Metzer if there was anything on them, she said: "Yes, again, white stuff."

The defence barrister asked her how often over the years she had seen signs of drug use, to which she replied: "Regularly".

Grillo also referred to a box, shaped like a book, in which Lawson has denied stashing drugs.

The celebrity cook last week admitted taking cocaine with Diamond when he found out he had terminal cancer, and on another occasion in July 2010 during her troubled marriage to Saatchi.

But Lawson, who also admitted smoking cannabis in the last year of her marriage to the art gallery owner, said the idea that she was a drug addict or habitual user of cocaine was "absolutely ridiculous" and accused her ex-husband of "peddling" stories about her alleged habit.

Metzer asked Grillo if Ms Lawson's assertion that she took cocaine with Diamond but never again until 2010 was true.

"No", she replied. "Because I know I saw more stuff before that."

Asked how often she saw evidence of cocaine use, she said: "Like, every three days, something like that. Regularly, not only once, for sure."

She told the court that Lawson's moods were "very up and down" and said she could be "mean".

Grillo then described how she felt after she was accused of stealing from the celebrity couple.

"I was sad after 14 years. They broke my heart," she said.

Grillo told the court she was shocked to be confronted by finance director Rahul Gajjar in July 2012 over her use of taxis or the company credit card.

The court heard that the Grillo sisters later met with Gajjar who urged them to sign a letter admitting fraud and agreeing to pay money back. But they refused and Elisabetta Grillo told the jury they would not sign as she did not want to admit to something she had not done.

She said she was upset by the allegations and she tried to contact Ms Lawson via letter and phone call but did not receive a reply.

She was asked about an email written to Lawson and Saatchi by her and her sister in October last year in which they begged for forgiveness.

Asked by Metzer what she was asking forgiveness for, she said: "Because I disappointed them. It's not because I did something bad... I wanted someone to talk with me, neither Charles or Nigella talked to us, they sent the lawyers and the police."


13.23 | 0 komentar | Read More

NZ mine payments not 'blood money'

Written By Unknown on Kamis, 12 Desember 2013 | 13.24

New Zealand prosecutors have dropped charges against former Pike River Coal boss Peter Whittall. Source: AAP

HEALTH and safety prosecutors are denying the reparations offer they accepted from former Pike River Coal boss Peter Whittall is "blood money".

All 12 health and safety charges against the Australian mining executive have been dropped after the Crown told Christchurch District Court on Thursday that their chances of convicting him were low.

This was in part because a number of witnesses were not prepared to front up in court, others weren't prepared to sign briefs of evidence, and some experts clashed in their evidence.

It had been alleged Mr Whittall, who was chief executive of Pike River Coal for six weeks before the 2010 explosions, participated or knew about safety breaches at the mine.

Unions and upset family members of some of the 29 miners who died in the explosions have described Mr Whittall's offer to pay the victims' families and survivors $110,000 each - accepted by prosecutors - as "blood money".

Geoffrey Podger, the acting deputy chief executive of the Ministry of Business, Innovation and Employment's health and safety group, said legal advice was taken before deciding to accept the offer.

"The issue of whether people have sought to make amends is a relevant factor," he told Radio New Zealand.

"But if the case had been strong enough to go to trial, we would have done so."

The amount Mr Whittall has offered to pay, which will come from insurance and from legal costs he won't now have to meet, is the same as Pike River Coal was fined when it admitted charges, but which it wasn't able to pay due to receivership.

Mr Podger denied suggestions the fact the case could shine attention on failings of the ministry's predecessors, the Department of Labour, was part of the reason for not prosecuting, saying independent legal advice from the crown solicitor was taken.

"We have always said that our performance over Pike River was unsatisfactory," he said.

Family members said the men who died would not now get justice.

Mr Whittall's lawyer, Stacey Shortall, said the dismissal of the charges meant that money which otherwise would have been spent on the legal case could now be used to compensate the families.

She told Radio New Zealand there were fundamental flaws in the prosecution case.


13.24 | 0 komentar | Read More

Foreign airlines to boost stake in Virgin

VIRGIN Australia's largest shareholders Singapore Airlines, Etihad Airways and Air New Zealand will increase their stakes in the airline to almost 70 per cent as part of a $351.5 million capital raising.

Retail shareholders took up just 25.3 per cent of the entitlement.

The announcement has angered rival Qantas and pushed its shares two per cent lower to 97 cents after touching an all time low of 96 cents on Thursday.

Qantas has complained for weeks about an uneven playing field in the Australian aviation market as Virgin is not restricted on foreign investment.

Chief executive Alan Joyce has been lobbying the federal government to block Virgin's equity raising.

Virgin's three foreign shareholders already own 63 per cent of the airline and they are expected to increase their combined stakes to around 67 per cent.

Air New Zealand is expected to hold the largest stake, at just over 24 per cent and Singapore and Etihad will boost their respective stakes to just above 21 per cent.

Virgin founder Richard Branson owns around 10 per cent.

Retail shareholders will raise $17.5 million as part of the entitlement.

Virgin said the balance of 136.4 million remaining shares would be issued to the underwriters and the sub-underwriter of the retail entitlement offer.

Air New Zealand had agreed to sub-underwrite the offer and Etihad Airways and Singapore Airlines had agreed to increase their exposure to Virgin through cash settled derivatives.

Virgin conducted the raising at 38 cents a share, which was one cent higher than Wednesday's closing price.

A Qantas spokesman said the move meant Virgin Australia was now almost 80 per cent foreign owned after receiving more than $300 million from state-owned enterprises."

"But it has all of the international traffic rights reserved for majority Australian-owned carriers," Qantas said.

At the close of trade Virgin shares rose one cent to 38 cents while Qantas shares fell two cents to 97 cents.


13.24 | 0 komentar | Read More

Chevron's Gorgon blows out to $US54bn

Chevron says the cost of its Gorgon LNG project in West Australia has blown out to $A59.87 billion. Source: AAP

AUSTRALIA'S largest gas project Gorgon has suffered a multi-billion dollar cost blow-out and delay, the latest in a string of industry overruns.

The cost of energy giant Chevron's liquefied natural gas project has blown out from $US52 billion to $US54 billion ($A57.65 billion to $A59.87 billion).

Also, the start-up date for first gas from the Western Australian project is now expected to be in mid-2015 instead of the first quarter.

Despite those issues, the project's economics remained attractive, said Chevron vice-chairman George Kirkland.

"We continue to make steady progress against key project milestones and are applying lessons learned to our Wheatstone development which is almost 25 per cent complete," he said.

"Approximately 75 per cent of our combined LNG offtake from the two projects is committed under firm, long-term sales and purchase agreements."

The smaller but still large $A29 billion Wheatstone project in WA is also operated by Chevron. The two projects will produce 400,000 barrels a day at full capacity.

Thursday's cost blow-out is not a surprise, with Chevron previously complaining about a regulatory environment that was leading to wage and other cost problems. It also follows a cost increase last December from $US37 billion to $US52 billion.

LNG is tipped to replace iron ore as Australia's top earning export within two decades.

However, the $A200 billion suite of seven LNG projects being built have been marred by regular cost blow-outs and delays, and the development of rival projects overseas in countries such as Canada.

Maritime Union of Australia (MUA) WA state secretary Christy Cain said while Chevron had highlighted high labour costs as contributing to cost blowouts, improved management practices would lead to savings.

"Instead of blaming workers for the cost blowouts on Gorgon, Chevron management should be taking a good look at themselves and their management practices," he said.

"Public debate should focus on the salaries and perks of Chevron's management."


13.24 | 0 komentar | Read More
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